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Finance sites erroneously show Amazon, Apple, other stocks crashing

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11–20 of 98 posts

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#11
post #5

Sometimes I wonder if it would make sense to place long-term buy orders at a ridiculously low bids. Just in case.

Recently when BTC flash crashed (or maybe it was Ethereum) those who had placed such orders made a ton of money. It's a safer bet with virtual currency because of its instability

It was isolated to a single exchange GDAX and happened with both Bitcoin and Ethereum at different times.

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#12
post #5

Sometimes I wonder if it would make sense to place long-term buy orders at a ridiculously low bids. Just in case.

The equities markets have Limit Up/Limit Down bands (LULD bands) that prevent big swings in prices. Like the other commenter said, your strategy might work in cryptocurrency markets, but not in equities.

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#13
post #6
post #3

And we trust that software can drive our cars for us?

Stock tracking websites don't need to be perfect, just need to be better than the humans they replaced. Faster, free, and less errors doesn't mean they must be error free. Self driving cars just need to be better than humans, and given the number of teens and senior citizens on the road...

Statistically that's true but realistically I wouldn't want to use a self-driving car that's only a little better than the average driver. It's one thing to have a friend that's a bad driver and another thing to ride in their car.

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#15
post #9
post #5

Sometimes I wonder if it would make sense to place long-term buy orders at a ridiculously low bids. Just in case.

Except these weren't real prices. Buy orders would not have been triggered.

It seems like the price was trying to be set to 123.45 -- there are some discrepancies on different sites; not really clear whether any trades took place in little or no volume after hours, or purely feed error.

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#16
This story isn't emphasizing an important point: the stock price of many tech companies - amazon, google, Microsoft - were pegged to exactly $123.46 for multiple hours.

This is likely 123.456 rounded to 2 decimals.

To me this smells like a software testing bug or hack, rather than "stocks crashing"

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#18
post #16

This story isn't emphasizing an important point: the stock price of many tech companies - amazon, google, Microsoft - were pegged to exactly $123.46 for multiple hours. This is likely 123.456 rounded to 2 decimals. To me this smells like a software testing bug or hack, rather than "stocks crashing"

Good eye. That was probably the case.

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#19
post #13
post #6

Earlier quoted context omitted.

Stock tracking websites don't need to be perfect, just need to be better than the humans they replaced. Faster, free, and less errors doesn't mean they must be error free. Self driving cars just need to be better than humans, and given the number of teens and senior citizens on the road...

Statistically that's true but realistically I wouldn't want to use a self-driving car that's only a little better than the average driver. It's one thing to have a friend that's a bad driver and another thing to ride in their car.

But they are still on the road. They're still a hazard to everyone around them. Pedestrians, cyclists, and other drivers are all at risk.

Re: Finance sites erroneously show Amazon, Apple, other stocks crashing

#20
post #5

Sometimes I wonder if it would make sense to place long-term buy orders at a ridiculously low bids. Just in case.

The equities markets have Limit Up/Limit Down bands (LULD bands) that prevent big swings in prices. Like the other commenter said, your strategy might work in cryptocurrency markets, but not in equities.

It works if your orders can be executed in after hours trading when liquidity is restricted.
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